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SOUTH AFRICAN QUALIFICATIONS AUTHORITY 
REGISTERED UNIT STANDARD: 

Implement and manage compliance with stock broking regulations and standards 
SAQA US ID UNIT STANDARD TITLE
12897  Implement and manage compliance with stock broking regulations and standards 
ORIGINATOR
SGB HET Accountancy and Financial Management 
PRIMARY OR DELEGATED QUALITY ASSURANCE FUNCTIONARY
FASSET - Financial and Accounting Services SETA 
FIELD SUBFIELD
Field 03 - Business, Commerce and Management Studies Finance, Economics and Accounting 
ABET BAND UNIT STANDARD TYPE PRE-2009 NQF LEVEL NQF LEVEL CREDITS
Undefined  Regular  Level 7  Level TBA: Pre-2009 was L7  18 
REGISTRATION STATUS REGISTRATION START DATE REGISTRATION END DATE SAQA DECISION NUMBER
Reregistered  2018-07-01  2023-06-30  SAQA 06120/18 
LAST DATE FOR ENROLMENT LAST DATE FOR ACHIEVEMENT
2024-06-30   2027-06-30  

In all of the tables in this document, both the pre-2009 NQF Level and the NQF Level is shown. In the text (purpose statements, qualification rules, etc), any references to NQF Levels are to the pre-2009 levels unless specifically stated otherwise.  

This unit standard does not replace any other unit standard and is not replaced by any other unit standard. 

PURPOSE OF THE UNIT STANDARD 
This unit standard is intended for people who work or intend to work in the Financial Markets sector.

Persons credited with this Unit Standard can locate and explain the key points in the legislation governing the financial markets and are able to identify and pre-empt situations where compliance with such legislation may not be taking place. They are able to advise on and manage situations to ensure that such compliance does take place within an organisation.

The unit standard should help to reduce non-compliance with legislation by businesses in the financial markets sector. 

LEARNING ASSUMED TO BE IN PLACE AND RECOGNITION OF PRIOR LEARNING 
The learner should have been assessed as competent against Unit standards:
  • "Operate within the ethical, professional and legal limits of the South African and International legislation and codes of practice regulating the financial markets"
  • "Operate within the rules and directives of the financial markets exchanges"

    before commencing with this standard. 

  • UNIT STANDARD RANGE 
    "The legislation regulating the financial markets institutions" includes:
  • The Financial Markets control Act No. 55 of 1989
  • The Stock Exchanges Control Act No.1 of 1985
  • The Inspection of Financial Institutions Act No. 38 of 1984
  • The Financial Institutions (Investment of funds) Act No. 39 of 1984
  • The Custody and Administration of Securities Act No.85 of 1992
  • The Insider Trading Act No. 135 of 1998
  • The Marketable Securities Tax Act No. 32 of 1948
  • The Stamp Duties Act No.77 of 1968
  • The Uncertified Securities Tax Act No. 31 of 1988
  • The Schedule issued in terms of the Banks Act No. 94 of 1990
  • The Exchequer and Audit Act
  • The South African Reserve Bank Act
  • The Land Bank Act
  • The Banks Act
  • The Companies Act
  • The Bills of Exchange Act

    "Statutory prescriptions" are those affecting:
  • the exchanges and their business
  • the instruments
  • market participants
  • controlling parties 

  • Specific Outcomes and Assessment Criteria: 

    SPECIFIC OUTCOME 1 
    Acquire and maintain knowledge of the legislation and codes of practice 
    OUTCOME NOTES 
    Acquire and maintain knowledge of the legislation and codes of practice governing the financial market sector. 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    1. Relevant legislative documentation can be located and used for consultation. 

    ASSESSMENT CRITERION 2 
    2. The statutory mandates and compliance requirements of regulators for the financial markets sector are defined by way of graphs and tables. 

    ASSESSMENT CRITERION 3 
    3. The development and philosophy of the regulatory environment relating to the financial markets sector is evaluated within the global context. 

    SPECIFIC OUTCOME 2 
    Develop two compliance strategies and/or procedures 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    1. Criteria for the development of compliance strategies and procedures are established and agreed in consultation with stakeholders. 

    ASSESSMENT CRITERION 2 
    2. Strategise and procedures for compliance are developed in conformance with the agreed criteria. 

    ASSESSMENT CRITERION 3 
    3. Approval for the developed strategies and procedures are negotiated with all stakeholders before finalization. 

    ASSESSMENT CRITERION 4 
    4. The finalised strategies and procedures are distributed throughout the organization as deemed appropriate by the Compliance Officer. 

    SPECIFIC OUTCOME 3 
    Implement compliance strategies and procedures 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    1. The strategies and procedures are implemented as agreed in accordance with the legislation and company policy. 

    ASSESSMENT CRITERION 2 
    2. Measures for adherence to compliance strategies and procedures are established and relayed to all stakeholders. 

    ASSESSMENT CRITERION 3 
    3. Training of staff that may be necessary to facilitate implementation of the strategies and procedures is identified and relayed to the persons responsible for drawing up training programmes. 

    ASSESSMENT CRITERION 4 
    4. The importance of compliance and the consequences of non-compliance is summarised in writing and communicated throughout the organization in an office memo. 

    SPECIFIC OUTCOME 4 
    Monitor and supervise adherence to the compliance strategies and procedures 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    1. The compliance monitoring process is described with details given of who is responsible for each step in the process. 

    ASSESSMENT CRITERION 2 
    2. Conformance with the strategy and procedure is measured and monitored on an on-going basis for a period of three months. 

    ASSESSMENT CRITERION 3 
    3. Stakeholders and management are consulted with regard to any recommended changes to the strategies and procedures. 

    ASSESSMENT CRITERION 4 
    4. Breaches of compliance are recorded and reported timeously to the specified authority. 

    ASSESSMENT CRITERION 5 
    5. In cases of breach of compliance, appropriate remedial action is drawn up and implemented in accordance with company guidelines and the relevant legislative requirements. 


    UNIT STANDARD ACCREDITATION AND MODERATION OPTIONS 
    Accreditation and moderation:

    Accreditation for this Unit Standards shall be from the FASSET Education and Training Quality Assuror through formative and summative assessment by a registered Assessor. Assessment should be contextual and be conducted in the workplace as far as possible.
  • Assessors must be registered as an Assessor with the FASSET ETQA or with an ETQA that has a Memorandum of Understanding with the FASSET ETQA
  • Moderators must be registered as assessors with the FASSET ETQA or with an ETQA that has a Memorandum of Understanding with the FASSET ETQA
  • Training providers must be accredited by the Fasset ETQA or with an ETQA that has a Memorandum of Understanding with the FASSET ETQA
  • Moderation should include both internal and external moderation where applicable
  • The Fasset ETQA will co-ordinate all moderation activities in accordance with its policies and procedures 

  • UNIT STANDARD ESSENTIAL EMBEDDED KNOWLEDGE 
    A demonstrated understanding of:
  • The terminology relating to the Financial Markets and instruments
  • The legislation and codes of practice governing the financial markets sector, The rules and directives governing the exchanges 


  • Critical Cross-field Outcomes (CCFO): 

    UNIT STANDARD CCFO IDENTIFYING 
    Identify and solve problems using critical and creative thinking processes. For example by constantly analysing workplace practices for adherence to the legislation and drawing up processes to ensure compliance. 

    UNIT STANDARD CCFO WORKING 
    Work effectively with others as a member of a team, group, organization or community. For example through communicating with others regarding legislative issues and fostering team commitment to compliance. 

    UNIT STANDARD CCFO ORGANISING 
    Organize and manage oneself and one's activities responsibly and effectively. For example through the demonstration of ethical and moral principles in keeping with the nature of compliance. 

    UNIT STANDARD CCFO COLLECTING 
    Collect, analyse, organise and critically evaluate information. For example through awareness of organisational practices and policies to ensure that they comply with the legislation and codes of conduct. 

    UNIT STANDARD CCFO COMMUNICATING 
    Communicate effectively using visual, mathematical and / or language skills in the modes of oral and/or written persuasion. For example through advising and motivating others with regard to compliance issues. 

    UNIT STANDARD CCFO DEMONSTRATING 
    Demonstrate an understanding of the world as a set of interrelated systems by recognizing that problem-solving contexts do not exist in isolation. For example, in illustrating how lack of compliance impacts on other organisational issues including credibility and legal issues. 

    UNIT STANDARD CCFO CONTRIBUTING 
    Participating as responsible citizens in the life of local, national and global communities, for example the compliance offices, as custodian of the ethical behaviour of individuals in an organization, should demonstrate that behaviour themselves. 

    REREGISTRATION HISTORY 
    As per the SAQA Board decision/s at that time, this unit standard was Reregistered in 2012; 2015. 

    UNIT STANDARD NOTES 
    Terminology:

    Terminology relating to the Financial Markets can be found in "Who owns Whom's Dictionary of Stock Market Terms" published by Who owns Whom/PSG Online in 2001. ISBN 1-919850-04-X.

    Values:

    The use of tasks and materials in the learning event plan should not discriminate against learners on any grounds proscribed in the Bill of Rights and should promote the orientations outlined in the critical cross-field outcomes. 

    QUALIFICATIONS UTILISING THIS UNIT STANDARD: 
      ID QUALIFICATION TITLE PRE-2009 NQF LEVEL NQF LEVEL STATUS END DATE PRIMARY OR DELEGATED QA FUNCTIONARY
    Elective  23653   National Diploma: Financial Markets  Level 6  NQF Level 06  Reregistered  2023-06-30  FASSET 


    PROVIDERS CURRENTLY ACCREDITED TO OFFER THIS UNIT STANDARD: 
    This information shows the current accreditations (i.e. those not past their accreditation end dates), and is the most complete record available to SAQA as of today. Some Primary or Delegated Quality Assurance Functionaries have a lag in their recording systems for provider accreditation, in turn leading to a lag in notifying SAQA of all the providers that they have accredited to offer qualifications and unit standards, as well as any extensions to accreditation end dates. The relevant Primary or Delegated Quality Assurance Functionary should be notified if a record appears to be missing from here.
     
    NONE 



    All qualifications and part qualifications registered on the National Qualifications Framework are public property. Thus the only payment that can be made for them is for service and reproduction. It is illegal to sell this material for profit. If the material is reproduced or quoted, the South African Qualifications Authority (SAQA) should be acknowledged as the source.